DECLERCQ MD: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DECLERCQ MD
Largest movements
- Receivables within one year +€71,089
up €71,089 (+30.6%), from €232,423 to €303,513
of which Other amounts receivable: +€65,592
- Tangible fixed assets -€39,305
down €39,305 (-4.5%), from €866,419 to €827,115
of which Land and buildings: -€34,106
- Cash +€34,507
up €34,507 (+101%), from €34,220 to €68,727
mainly Net result for the year (+€189,124) and Depreciation (+€39,305)
- Deferred charges and accrued income +€13,233
up €13,233 (+36.9%), from €35,837 to €49,070
- Reserves +€121,948
up €121,948 (+21.8%), from €558,815 to €680,763
of which Distributable reserves: +€123,808
- Debts after one year -€47,993
down €47,993 (-9.2%), from €520,676 to €472,683
- Tax, wage and social debts +€21,398
up €21,398 (+40.3%), from €53,134 to €74,532
of which Taxes: +€21,238
- Contributions -€18,500
down €18,500 (-99.5%), from €18,600 to €100
- Gross operating margin +€40,810
up €40,810 (+14.1%), from €290,097 to €330,906
- Taxes +€11,130
up €11,130 (+14.9%), from €74,853 to €85,983
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,202,016 | €1,280,540 | +€78,524 | +6.5% |
| Fixed assets | 21/28 | €870,286 | €830,982 | -€39,305 | -4.5% |
| Tangible fixed assets | 22/27 | €866,419 | €827,115 | -€39,305 | -4.5% |
| Land and buildings | 22 | €851,753 | €817,647 | -€34,106 | -4.0% |
| Plant, machinery and equipment | 23 | €3,828 | €2,662 | -€1,165 | -30.4% |
| Furniture and vehicles | 24 | €10,839 | €6,805 | -€4,033 | -37.2% |
| Financial fixed assets | 28 | €3,867 | €3,867 | = | 0.0% |
| Current assets | 29/58 | €331,730 | €449,558 | +€117,829 | +35.5% |
| Amounts receivable after more than one year | 29 | €29,250 | €26,250 | -€3,000 | -10.3% |
| Other amounts receivable | 291 | €29,250 | €26,250 | -€3,000 | -10.3% |
| Amounts receivable within one year | 40/41 | €232,423 | €303,513 | +€71,089 | +30.6% |
| Trade receivables | 40 | €159,555 | €165,053 | +€5,497 | +3.4% |
| Other amounts receivable | 41 | €72,868 | €138,460 | +€65,592 | +90.0% |
| Current investments | 50/53 | - | €1,999 | +€1,999 | |
| Cash at bank and in hand | 54/58 | €34,220 | €68,727 | +€34,507 | +101% |
| Deferred charges and accrued income | 490/1 | €35,837 | €49,070 | +€13,233 | +36.9% |
| Total equity and liabilities | 10/49 | €1,202,016 | €1,280,540 | +€78,524 | +6.5% |
| Equity | 10/15 | €577,415 | €680,863 | +€103,448 | +17.9% |
| Contributions | 10/11 | €18,600 | €100 | -€18,500 | -99.5% |
| Reserves | 13 | €558,815 | €680,763 | +€121,948 | +21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €440 | €440 | = | 0.0% |
| Distributable reserves | 133 | €556,515 | €680,323 | +€123,808 | +22.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €624,601 | €599,677 | -€24,924 | -4.0% |
| Amounts payable after more than one year | 17 | €520,676 | €472,683 | -€47,993 | -9.2% |
| Financial debts | 170/4 | €520,676 | €472,683 | -€47,993 | -9.2% |
| Amounts payable within one year | 42/48 | €102,908 | €125,759 | +€22,851 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €47,231 | €47,993 | +€762 | +1.6% |
| Trade debts | 44 | €1,942 | €3,233 | +€1,292 | +66.5% |
| Suppliers | 440/4 | €1,942 | €3,233 | +€1,292 | +66.5% |
| Taxes, remuneration and social security | 45 | €53,134 | €74,532 | +€21,398 | +40.3% |
| Taxes | 450/3 | €52,814 | €74,052 | +€21,238 | +40.2% |
| Remuneration and social security | 454/9 | €320 | €480 | +€160 | +50.0% |
| Other amounts payable | 47/48 | €601 | €0 | -€601 | -100% |
| Accrued charges and deferred income | 492/3 | €1,017 | €1,235 | +€219 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,155 | €39,305 | -€1,850 | -4.5% |
| Other operating charges | 640/8 | €6,707 | €6,734 | +€28 | +0.4% |
| Non-recurring operating charges | 66A | €460 | €0 | -€460 | -100% |
| Gross operating margin | 9900 | €290,097 | €330,906 | +€40,810 | +14.1% |
| Operating profit (loss) | 9901 | €241,775 | €284,868 | +€43,093 | +17.8% |
| Financial income | 75/76B | €2,746 | €5,160 | +€2,414 | +87.9% |
| Recurring financial income | 75 | €2,746 | €5,160 | +€2,414 | +87.9% |
| Financial charges | 65/66B | €12,569 | €14,920 | +€2,351 | +18.7% |
| Recurring financial charges | 65 | €12,569 | €14,920 | +€2,351 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €231,952 | €275,107 | +€43,155 | +18.6% |
| Income taxes | 67/77 | €74,853 | €85,983 | +€11,130 | +14.9% |
| Profit (loss) for the period | 9904 | €157,099 | €189,124 | +€32,026 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €157,099 | €189,124 | +€32,026 | +20.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.